11-26-2003 Council Agenda - Laserfiche WebLink

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AAAAAA A AAAAsuAAAAAAA• AuuAuuussAsAAAAAAAAswuuuAsesueAsr • • • `! Ramsey County Community Development Block Grant (CDBG) Deferred Loan Program 111111111 /1111J11111e1 /11 ♦111 /11111 411/111111111111111111111111 / /11111 A 0% interest loan for a maximum of $15,000 is available to owner - occupied single - family dwellings worth $140,000 or less in suburban Ramsey County. The loan will be forgiven after 10 years unless the loan borrower moves from the home. To qualify, loan borrowers must be at or below 50% of the area median income. Homeowners can use these loans to finance exterior and interior rehabilitation of a home and /or existing garage. Rehab Incentive Program CURRENTLY OUT OF FUNDS The Rehab Incentive Program provides a cash rebate to homeowners who complete home improvement projects. The rebate amount is calculated as a percentage of eligible rehabilitation costs. Homeowners with incomes at or below 115% of the area median income, or $88,206, are eligible to receive a 10 %, 12% or 15% rebate depending on income. The maximum rebate amount is $3,000 per household. This program is available to specific cities in the suburban Twin Cities. Roseville Revolving Loan Program A 4% interest loan for a maximum of $10,000 and a term of 7 years is available to owner - occupied single and duplex properties. There is no income restriction, and eligible projects include interior and exterior repairs and improvements. 1 HousingResource Center - A Program of the Greater Metropolitan Housing Corporation NorthMetro Office — 1170 County Road I, Shoreview, MN 55126, 651 -486 -7401 j Updated August 2003 - 1 4 - 777777777777777777777777777777 77777777777777777 77777777777777777'1 • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • •